Turkey gold exports on the rise

According to new data, Turkey now rank second after India in the exporting of gold sector.

The data, by the International Monetary Fund, global consultancy company GFMS, Istanbul Chamber of Jewellery (IKO) and the Gold Miners Association (AMD) showed that Turkey now exports $1.25 billion worth of gold accessories and jewellery every year, Turkish gold now reaches to 70 countries worldwide.

Turkish imports of gold reached an amazing $7 billion per year this year. According to the data, Turkey has now imported an unprecedented $120 billion worth of gold and gold accessories in the last 16 years.

As far as demand of gold, Turkey ranks third only behind Saudi Arabia and Hong Kong. There is more than 1 gram of gold per person in Turkey every year on average. The demand for gold was measured at 114.6 tons last year in Turkey.

The jewellery sector in Turkey is big business in Turkey. There are currently 250,000 people employed in the jewellery sector and the annual revenue of the sector in Turkey is around $10 billion.

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